Private schools exist to offer alternative education. They maintain independence from governmental control by operating outside of public funding. Without insurance for private schools, financial reserves are at risk and the institution’s continued operation is in jeopardy.
A comprehensive plan for private organizations could begin with protection of the premises from deterioration, damage and destruction. A property policy would also address loss of use during repair or renovation of the facilities. Contents of the building should be included for replacement of expensive equipment.
The organization’s transportation must be placed under an auto policy. Coverage should also include private vehicles when used for school business. General accident insurance is needed to address incidents involving students, employees and visitors both on the premises and during involvement with extracurricular activities.
General liability could be supplemented with excess coverage for loss that exceeds policy limits. Claims targeting teachers can be addressed under professional and misconduct liability. In turn, the school needs to be protected against suits filed by its staff for employment practices. Crime insurance would deal with misdeeds of outsiders as well as employees. Finally, the board of directors and officers should be safeguarded against lawsuits, and the organization covered for its related costs.
With claims against educational institutions on the rise, insurance for private schools is more important than ever. A comprehensive plan could be of benefit in keeping alternative education available for the public.